I will update this post during and after the event. The usual: at 1145 GMT we get the decision, and 1230 GMT president Draghi reads the pre-written statement and answers questions from the press.
Previously on MoreLiver’s:
Live Commentary links:
 |
| Red lines ECB meetings, blue lines FED meetings |
ECB holds rates, Draghi's guidance under market
microscope – Reuters
Markets turned their
attention to ECB chief Mario Draghi's news conference for any signs a euro zone
recovery will affect the bank's policy stance.
Draghi Reiterates Forward Guidance – Marc
to Market
ECB Keeps Rates at Record Low Amid Euro-Area
Recovery – BB
ECB meeting - more of the same – Merkelnomics
ECB joins BoE in desperate struggle to preserve
credibility – TradingFloor
Nick Beecroft: The ECB
has found itself in exactly the same position as the BoE when it comes to
convincing the market that its forward guidance assertion is in any way
credible.
ECB stays dovish – TradingFloor
The European Central
Bank's first meeting after the summer holidays was also the last before the
crucial German elections. President Draghi kept the tone dovish but did not
hint at any new measures.
ECB comment: Clear easing bias confirmed – Nordea
The ECB kept its key
policy rates unchanged at today’s meeting as widely expected. ECB President
Draghi’s introductory statement by and large confirmed our view that the ECB
has a clear easing bias.
ECB’s Draghi walks the line – MacroScope
/ Reuters
ECB chief 'not enthusiastic' about eurozone
growth – euobserver
The Key ECB Takeaways: ‘Very, Very Green’
Shoots of Recovery – WSJ
ECB see "green" recovery, but
maintains downward bias – Handelsbanken
PREVIOUSLY
ECB Preview: Keep the powder
dry – Danske Bank (pdf)
There are fewer
arguments for a rate cut today than a month ago. The economy is improving
faster than the ECB expected, the decline in excess liquidity has slowed and
market rates have come down slightly.
ECB Preview: Clear easing bias likely to remain
in place – Nordea
Outright Monetary
Transactions, one year on – ECB
Speech by Benoît
Cœuré, Member of the Executive Board of the ECB, at the conference “The ECB and
its OMT programme”, organised by Centre for Economic Policy Research, German
Institute for Economic Research and KfW Bankengruppe Berlin, 2 September 2013
Peripherally, yours – alphaville / FT
The eurozone is
straggling to recovery, though apparently in spite of the ECB failing to shore
up money growth
Draghi Gets Another Chance to Push ECB’s
Forward Guidance – WSJ
The value in vague – alphaville / FT
JP Morgan economist
really would like the ECB chief to use the opportunity to expand upon the word
“extended” when offering interest rate guidance.
Danske Daily – Danske
Bank (pdf)
Today’s main
event is the ECB meeting this afternoon. There are fewer arguments for a rate cut
today than a month ago, given recent upside surprises in economic indicators
and a slower pace of decline in excess liquidity.
Aamukatsaus – Nordea
Viime viikon
päätökset eivät vielä riitä * Deflaatio nostaa päätään * Tänään Riksbankin,
BoE:n ja EKP:n korkopäätökset